Cork copper firm in all-share takeover
AIM-LISTED resources investment firm Charles Street Capital has agreed to pay £7m (€8.3m) as part of an all-share deal to acquire Canada-based Westcork Copper Mining, a company that has rights to prospect over 18,500 hectares on the Beara Peninsula.
Under the deal, Charles Street Capital will be obliged to conduct aerial surveys of the six prospect areas in Cork that are held by the Canadian firm.
Standard launches new capital product
STANDARD Life has launched a 100pc capital protected product with a potential upside per annum return of 6.85pc (AER). It tracks the Eurostoxx 50 and pays out after four years and nine months. The underlying capital protection at maturity is provided by Barclays Bank -- ranked as one of the world's 50 safest banks by 'Global Finance Magazine'.
Sanofi-Aventis bid for US firm extended
FRENCH pharmaceutical giant Sanofi-Aventis said yesterday it had extended its bid for US biotechnology group Genzyme without improving an offer that attracted only a fraction of Genzyme shares. Sanofi's original offer of $69 (€51) per share, launched on October 4 after months of fruitless talks with Genzyme, expired last Friday.
Trade group rejects China's tariff appeal
THE World Trade Organisation has rejected China's complaint against punitive US tariffs on Chinese tyre imports, according to a ruling just released. "We find that in imposing the safeguards on September 26, 2009, the United States did not fail to comply with its obligations," the ruling said.
Microsoft founder's lawsuit thrown out
MICROSOFT co-founder Paul Allen has had his lawsuit against a number of tech and online retail firms thrown out. Mr Allen claimed the firms -- including Google, eBay, Apple and Facebook -- had infringed patents held by his firm Interval Licensing. But a federal judge said Mr Allen had failed to "indicate with any specificity" which products violated his intellectual property rights.